Tony Guglielmin, CFO of Ballard Power Systems Inc. (USA) (BLDP), says the company’s biggest growth opportunity this year and going forward is in telecom. He says the telecom industry is focused on backup power, creating an opportunity for Ballard’s 2- and 5-kilowatt systems.
“We are looking for growth in the 30%-plus range this year,” Guglielmin says. “We are making significant progress in this area and really globally in Indonesia, China, a variety of other markets, South Africa, and more recently, we are starting to see some progress in the United States as well. So telecom backup power is certainly a key part of our business, representing about 30% of our revenue.”
FOR MORE INFORMATION ON THIS INTERVIEW CLICK HERE.
Guglielmin says Ballard is also seeing strong growth in its stack supplier relationship with Plug Power for material handling application. He says that part of the business grew more than 200% in Q2.
“Plug Power has announced a number of significant transactions recently with Wal-Mart, Central Grocers and Ace Hardware,” Guglielmin says. “With Wal-Mart, I think they announced their seventh site that’s going to be providing full service, and we are providing stacks to Plug for that.”
Ballard Power Systems Inc. (USA) (BLDP) to Develop New Customer Markets
February 25, 2014
Ballard Power Systems (NASDAQ:BLDP): Global Fuel Cell Operations and Patent Portfolio for Investment Performance
February 01, 2021
Elutia (NASDAQ: ELUT) Targets Drug-Eluting Biologic Constructs as the Medical Niche to Power 10x Stock Returns
November 27, 2023
OSI Systems, Inc. (OSIS) Targets International Need for Cargo Screening with $1 Billion Contract in Mexico
December 04, 2013
CIRCOR International, Inc. (CIR) New CEO Targets Annual EPS Growth of 15%
December 11, 2014
